MITI to present NIMP 2030 this September – Deputy Minister

MITI to present NIMP 2030 this September – Deputy Minister

08 Jun 2023

The Ministry of Investment, Trade and Industry (MITI) is drafting the New Industrial Master Plan (NIMP) 2030 to drive industrial development and will present the master plan in September this year, deputy minister Liew Chin Tong said.

He said through the master plan, capital issues are important to be resolved through cooperation between the banking industry and other industries that could help the nation’s manufacturing industry.

“NIMP will help to focus on the issue of lack of capital for small and medium enterprises (SMEs),” he told the Dewan Rakyat today.

He was responding to a supplementary question from Tan Kar Hing (PH-Gopeng) on the government’s efforts to help companies increase production capacity and introduce new products to meet new segments such as electric vehicles and data centres.

“The government hopes that with NIMP 2030 and other approaches as well as geopolitical conditions that have a positive impact on the country, Malaysia can jump to front-end chip industry activities from back-end,” he said.

He said Malaysia is one of the 10 largest producers of semiconductor and electronic products, accounting for approximately seven per cent of the world’s semiconductor trade and 24 per cent of the United States semiconductor trade.

“This clearly shows how important Malaysia’s role is in the global semiconductor supply chain,” he said.

Besides that, he said the chip war following the geopolitical situation has also given a positive effect on Malaysia as investors shifted their investment to the country and neighbouring countries from China.

“In fact, the geopolitical situation helps to bring more investment to Malaysia and this has been evident over the last three years and will continue to see more investment in the electrical and electronic (E&E) sector,” he added.

Source: Bernama